“Carbon dioxide is not a control knob that can fine tune climate” – Judith Curry, Atmospheric Scientist, Georgia Tech

recent reports that climate models (simulations) are exaggerating warming show that climate change causes and outcomes are uncertain – a ‘low-carbon’ society may not have any effect on climate and financial institutions must reflect this uncertainty

Calgary, Alberta, Canada (PRWEB)September 27, 2017

ShareAction, a UK registered charity, recent demands for climate risk disclosure from financial and investment groups, as reported in the Financial Times Sept, 13, 2017, is based on outdated climate simulations that have predicted too much warming says Friends of Science, referring to The Times of Sept. 19, 2017.

Friends of Science Society says along with ShareAction, the CDP Worldwide and UNPRI are also operating on outdated climate catastrophe thinking that is not in keeping with principles of continuous disclosure, as required by investment regulators, particularly on any material change, a topic discussed in a NERA document by Bradley A. Heys, entitled “Economic Analysis Of Materiality For Canadian Securities Litigation.” (Link: nera.com/)

None of the organizations – ShareAction, the CDP and UNPRI is elected or accountable – but they hold tremendous sway over public policy due to the trillions of dollars in assets under management held by signatories, says Friends of Science. The UNPRI’s 2016 Annual Report requires a ‘climate pledge’ from participants and major institutional investors were urged to lobby recalcitrant companies in countries like Canada, the US and Australia to comply.

The recent reports that climate models (simulations) are exaggerating warming show that climate change causes and outcomes are uncertain – a ‘low-carbon’ society may not have any effect on climate and financial institutions must…